Investment app Grifin today officially launched its anticipated investment model called “Adaptive Investing.” This allows you to automatically invest in your favorite brands that you shop frequently.
Grifin was founded in 2017 with a desire to reduce the fear of investing and normalize investing for the less financially savvy. To date, Griffin has raised over $11 million from a distinguished list of investors including TTV Capital, Rise of the Rest, Gainels, NevCaut Ventures, Mana Ventures, Sidecut Ventures, Miami Angels, Playtap Media Ventures, and more. Also included are co-investors from Witz Ventures. Founder Austin Hankwitz and GGV Capital Managing Partner Hans Tung. The company says it sees about 20,000 unique new app installs each month.
Grifin's new patent-pending technology is an evolution of the original model and follows the premise of “Stock Where You Shop,” allowing you to explore the scary world of investing by matching your shopping habits with your stock selections. provide you with the opportunity to
“Developing a healthy, positive relationship with investing, and even money, is an incredibly difficult thing to implement and achieve,” co-founder Aaron Frog told TechCrunch. “Despite mobile access and 0% commission apps claiming to ‘open up’ investing to everyone, the current system is not personalized at all. It still requires a lot of emotional energy, confidence, and an understanding of how investing works. Most people don't feel like they have enough money to get started yet, and even the most financially savvy people I know don't know what's inside most ETFs. [exchange traded funds]. Everything is cloudy and complicated. None of this is centered around the individual. ”
Image credits: griffin
The Adaptive Investment Model aims to increase user flexibility by integrating new features into the app, such as pausing automatic payments, increasing or decreasing spending, and manually making additional investments in a company. We're also introducing a 'Secret Cash' feature, allowing you to make private purchases and keep more money in cash for the future.
“By integrating new features, this patent-pending technology enables a more intuitive and adaptive approach to investing that focuses not only on people's daily spending habits, but also on how much they want to invest. , builds on the original premise,” Fflug added.
By default, Griffin automatically invests $1 per transaction. For example, when you buy a coffee at Starbucks, the app will debit your bank account for $1 and earn you $1 in SBUX stock. You can also manually increase your investment amount up to $99.
Image credits: griffin
However, just because you enjoy a particular brand doesn't necessarily mean it's a smart investment. Grifin has added a new “Disable Company” feature, allowing you to stop or avoid investing in specific companies. You also have the option to pause your investment for a week.
“We are also keenly aware that just because people spend money in a certain place, they may not want to invest there… by investing in small amounts, $1 at a time. , the aim is to help people learn how to navigate the world of investing without suffering too many negative consequences if they don't do it right,'' says Frog.
Additionally, because consumers typically spend money on a variety of companies, including phone and internet bills, gas bills, and monthly subscription services, adaptive investing promotes a diverse profile, so the impact of single-stock exposure is Mr. Frog argues that this reduces the
“I have personally been using our app for just over two years and have invested in 115 unique companies,” he said.
Additionally, Griffin plans to redesign the app, which will include a premium version and an AI chatbot to help people learn how to invest.